But consumer advocates and some industry lawyers say that the safe harbor provision, in practice, will make it difficult for borrowers to pursue an exhaustive legal inquiry. So the safe harbor is seen as a big win for the banks.

“There’s this constant struggle between protection and access to credit,” said Leonard N. Chanin, a partner at Morrison & Foerster.

Thom Abbott‘s insight:

You gotta love the power of the lobbying effort….or not. Banks and Borrowers both got something…but you have to wonder who got the better part of the deal.

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